First Fidelity Bank, National Association in city_name, state_name

First Fidelity Bank, National Association in Newark, New Jersey (NJ)
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First Fidelity Bank, National Association - Overview

General
FDIC Certificate #: 33601
Status: Inactive
Closing history: Name Change
Acquiring institution: Wachovia Bank, National Association (#33869)
Federal Reserve ID: 1969289
Date Established: June 12, 1992
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 68 (Interstate: No)
FDIC's unique #: 47655
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: June 12, 1992
Last Structure Change Effective Date: October 20, 1994
Last Structure Change Process Date: October 27, 1994
Last Data Update: October 27, 1994
Data Source Date: April 05, 2012
Location
Address: 550 Broad Street, Newark, NJ 7102
County: Essex
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Jamesburg
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Newark, NJ (#5640)
Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
Core Based Statistical Area (CBSA): New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
CBSA Metro Statistical Area: New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
Core Based Statistical Division: Newark-Union, NJ-PA (#35084)
History of Changes
Merger - Without Assistance
Change NONGEOFLDOFF from Default
Change in Location
Name Change
Financial Summary
Total assets: $2,968.1 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

Dollar figures in thousands
0Total employees (full-time equivalent)
$649Total assets
$2,666,115Cash and due from depository institutions
$69,032Interest-bearing balances
$0Securities
$837,646Federal funds sold & reverse repurchase agreements
$122,000Net loans & leases
$1,422,756Loan loss allowance
$17,585Trading account assets
$0Bank premises and fixed assets
$19,915Other real estate owned
$1,760Goodwill and other intangibles
$67,086Life insurance assets
$125,920All other assets
$0Total liabilities and capital
$2,666,115Total liabilities
$2,309,491Total deposits
$2,144,758Interest-bearing deposits
$2,007,507Deposits held in domestic offices
2144758.00%% insured (estimated)
$96Federal funds purchased & repurchase agreements
$137,476Trading liabilities
$0Other borrowed funds
$2,300Subordinated debt
$0All other liabilities
$24,957Total equity capital
$24,957Total bank equity capital
$356,624Perpetual preferred stock
$0Common stock
$20,000Surplus
$334,125Undivided profits
Memoranda
$2,499Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$47,988Income earned, not collected on loans
$15,786Earning assets
$2,382,402Long-term assets (5+ years)
$665,791Average Assets, year-to-date
$931,307Average Assets, quarterly
$1,829,038Volatile liabilities
$164,542Insider loans
$302FHLB advances
$0Loans and leases held for sale
$35,837Unused loan commitments
$124,606Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$230,704Total risk weighted assets
$1,432,459Total unused commitments
$0Restructured Loans and leases
$7,300Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$34,324Total interest expense
$16,482Net interest income
$17,842Provision for loan and lease losses
$5,493Total noninterest income
$916Fiduciary activities
$43Service charges on deposit accounts
$540Trading account gains & fees
$0Additional noninterest income
$333Total noninterest expense
$11,073Salaries and employee benefits
$3,147Premises and equipment expense
$1,370Additional noninterest expense
$6,556Pre-tax net operating income
$2,192Securities gains (losses)
$0Applicable income taxes
$1,374Income before extraordinary items
$818Extraordinary gains - net
$0Net income attributable to bank
$818Net charge-offs
$9,609Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
4.03%Cost of funding earning assets
1.94%Net interest margin
2.10%Noninterest income to earning assets
0.11%Noninterest expense to earning assets
1.30%Net operating income to assets
0.09%Return on assets (ROA)
0.09%Pretax return on assets
0.24%Return on equity (ROE)
0.75%Retained earnings to average equity (YTD only)
0.75%Net charge-offs to loans
1.79%Credit loss provision to net charge-offs
57.17%Efficiency ratio
53,236Assets per employee
4.11%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.22%Loss allowance to noncurrent loans
36.64%Noncurrent assets plus other real estate owned to assets
1.87%Noncurrent loans to loans
3.33%Net loans and leases to deposits
66.34%Net loans and leases to core deposits
67.11%Equity capital to assets
13.38%Core capital (leverage) ratio
27.50%Tier 1 risk-based capital ratio
16.11%Total risk-based capital ratio
Memoranda
$17Average assets
$931,307Average earning assets
$109,023Average equity
$851,281Average loans

First Fidelity Bank, National Association in Newark, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

First Fidelity Bank, National Association - Overview

Assets and Liabilities (December 31, 1993)

Income and Expense (December 31, 1993)

Performance and Condition Ratios (December 31, 1993)

Comment about this bank, ask questions, or add new information about it:

First Fidelity Bank, National Association in Newark, New Jersey (NJ)Overview, Financial Summary, Detailed Financial Reports, Branches

First Fidelity Bank, National Association - Overview

Assets and Liabilities (December 31, 1993)

Income and Expense (December 31, 1993)

Performance and Condition Ratios (December 31, 1993)

Comment about this bank, ask questions, or add new information about it:

First Fidelity Bank, National Association in Newark, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches